Volt owns lithium rights across 175,000 hectares of land. The PEA outlines annual production beginning at 1,000 tonnes and rising to over 23,000 tonnes of battery-grade LHM over a 19-year period.
Rainbow Lake has a three-phase development plan. Phase 1 will produce 1,000 t/y with a lithium grade of 92 mg/L from the Muskeg formation. Phase 2 will boost output to 5,000 t/y, again from the Muskeg formation. Phase 3 will see production expanded to 23,000 t/y of LHM from both the Muskeg and Keg River formations.
Capital expenditures are $60 million for Phase 1, $242 million for Phase 2 and $946 million for Phase 3. Add in the processing facility, administration, infrastructure, and contingency, and the total capex is $1.5 billion.
Brines will be treated using Volt’s proprietary direct lithium extraction (DLE) method, referred to as IES-300. The technology was successfully tested during the company’s pilot program in the second…
